This annual report on the Multilateral Investment Guarantee Agency (MIGA) covers the fiscal year ending June 30, 2016, and includes the accompanying financial statements. In fiscal year 2016, despite a period of increased uncertainty over the state of...
Vea más +This annual report on the Multilateral Investment Guarantee Agency (MIGA) covers the fiscal year ending June 30, 2016, and includes the accompanying financial statements. In fiscal year 2016, despite a period of increased uncertainty over the state of our global economy, MIGA played a significant role in catalyzing private sector investments into countries most vulnerable to external shocks through our political risk insurance and credit enhancement products. Of the record $4.3 billion in guarantees issued, 53 percent of the investments were insured in poverty-afflicted areas. The author continued to work tirelessly to ensure that we supported investments in fragile and conflict-affected countries, which make up 10 percent of our portfolio. MIGA continued to collaborate closely with the rest of the World Bank Group to leverage our expertise and knowledge to solve the most pressing development challenges. Along with the World Bank and IFC, MIGA facilitated a crucial investment needed to build a new power plant in Nigeria to provide electricity to 13 million homes, showcasing the power of the “One WBG” model. In Mongolia, the author supported one of the largest underground copper mines to generate thousands of jobs for decades. MIGA also provided guarantees to Turkey’s official state export credit agency to help small and medium-sized Turkish companies access affordable financing to build and grow their businesses.
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